The Business Lawyer
The survey that follows highlights the most important developments of 2016 dealing with domestic and international sales of goods, personal property leases, payments, letters of credit, documents of title, investment securities, and secured transactions. Along with the usual descriptions of interesting judicial decisions highlighted in the survey, there has also been legislative progress in several areas. The 2012 amendments to U.C.C. Article 4A, which address issues related to the implementation of the Dodd-Frank Wall Street Reform and Consumer Protection Act of 2010, have been adopted by forty-six states and the District of Columbia, and introduced in Connecticut and Oklahoma. In 2011, the Uniform Law Commission completed a new Uniform Certificate of Title for Vessels Act that is designed to harmonize state certificate of title laws with federal laws regarding vessels, and with Article 9 to impede theft and facilitate boat financing. This has been adopted by the states of Virginia and Connecticut, as well as the District of Columbia, but is not currently under consideration anywhere else as of the date of this survey. Adoption of the 2003 revisions of Article 7 has now been accomplished by all fifty states and the District of Columbia, with Missouri's adoption earlier this year.
Jennifer S. Martin, Colin P. Marks & Wayne Barnes,
The Uniform Commercial Code Survey: Introduction,
Available at: https://scholarship.law.tamu.edu/facscholar/1093